Carbon Pulse

New Zealand’s Ministry of Primary Industries (MPI) has defended its move to introduce annual fees per hectare of forest and a range of service charges in the ETS, arguing the funds accrued will be essential to maintain the integrity of the scheme.

The US Commodities Futures Trading Commission (CFTC) lacks the expertise to create standards for the voluntary carbon market (VCM), a member of the industry’s private sector governance body argued, while some experts were not convinced the Council’s upcoming Core Carbon Principles (CCP) labelled credits will be the silver bullet the sector anticipated.

Vietnam has taken further steps towards a more comprehensive voluntary carbon market as tech and real estate firm CT Group launched the ASEAN Carbon Credit Exchange Joint Stock Company (CCTPA) in southern business hub Ho Chi Minh City.

A group of Australian scientists have raised “serious concerns” that Australian Carbon Credit Units (ACCUs) generated from soil carbon projects could be overinflated and based on non-additional activities, urging  the Clean Energy Regulator to release its data on how it calculates its crediting.

A daily summary of our news plus bite-sized updates from around the world.

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The Chilean government on Friday published regulations setting out the rules for utilising offsets against the country’s $5/tonne carbon tax, including restrictions on geography and expiry.

Fewer new financial players opened accounts in California’s WCI-linked cap-and-trade programme in Q3 than in previous quarters, while a slew of dairy digester owners exited the programme, according to state data published Friday.

Regulated parties picked up holdings of California Carbon Allowances (CCAs) and RGGI Allowances (RGAs) over the week as financial players moved in the opposite direction, while the roles were reversed in the third week of Washington Carbon Allowance (WCA) holdings being reported in US Commodities Futures Trading Commission (CFTC) data published Friday.

A working group convened by Pennsylvania Governor Josh Shapiro (D) released its final memorandum Friday detailing recommendations for cap-and-trade in the Keystone State, though the Commonwealth leader did not provide any information regarding his plans to implement the advice.

As the EU’s carbon border adjustment mechanism comes into effect on Oct. 1, exporters to the region are gearing up to measure their carbon impact and bracing for levies further down the line, with several jurisdictions already moving to ramp up the development of their own carbon pricing measures in a bid to minimise the economic impact of the policy.

The European Commission's proposed new climate and Green Deal commissioners are expected to face tough hearings before the European Parliament next week despite receiving backing from some quarters.

The US government on Friday detailed its previously announced plans to allocate up to $35 million to buy carbon dioxide removal (CDR) credits from several pathways as it attempts to help scale the industry and reach net zero GHG output.

Mozambique will prioritise community benefits and greater clarity for carbon credit buyers when drafting comprehensive regulations to support the development of offset projects in the country, the country's environment minister was reported as saying Thursday, as it readies almost 50 million units for the market.

The heads of three major EU and international institutions warned that not accelerating the clean energy transition in Europe would mean losing industrial competitiveness and threatening financial stability, at a conference in Paris on Friday.

European carbon prices fell back on Friday morning in very thin trading activity as the third quarter approached its end, while energy markets also weakened as mild weather and high gas stocks continued to weigh on the markets.

The fashion industry has complex and specific challenges to biodiversity but needs to start moving on understanding their impacts, according to a new report released by an industry body.

There is a a looming shortfall of the materials needed for electrification and the energy transition, according to a report released Friday by miner BHP and investment firm BlackRock on the challenges ahead facing the mining sector, new energy sectors, and hard-to-abate sectors such as steel making and cement.

Financial think tank Planet Tracker has developed a theoretical framework for a blue recovery bond that would allow investment in blue recovery bonds to fund fisheries that reduce or completely stop fishing in designated areas while stocks recover.

Trees enhanced for photosynthesis using bioengineering have been shown to accelerate the rate of carbon capture and slow the rate of decomposition, in addition to improved soil quality through more below-ground biomass and potential for greater resilience to high temperatures and drought, according to a California-based startup.